Group Solvency and Financial Condition Report (SFCR) 2021
This Solvency and Financial Condition Report (“SFCR”) covers the Business and Performance of The United Kingdom Mutual Steam Ship Assurance Association Limited (“UKC” (solo basis) or “the Group”). It also covers the System of Governance, Risk Profile, Valuation for Solvency Purposes and Capital Management.
The ultimate Administrative Body that has the responsibility for all of these matters is the Group Board of Directors, with the help of various governance and control functions that it has put in place to monitor and manage the business.
The Group’s internal model has been approved for the calculation of the underwriting risk elements of the Solvency Capital Requirement (“SCR”) with the remainder calculated using the standard formula.
Members can download the full report below.